FundsLibrary maintains over 95% MiFID II data coverage for its platform clients through Q1 2018
FundsLibrary supports a number of the most significant investment platforms in the UK including: Ascentric, Cofunds, Hargreaves Lansdown, James Hay, James Brearley, Parmenion, Sanlam and Wealthtime. Since the introduction of the MiFID II regulations on 3rd January 2018, FundsLibrary has maintained between 95 and 100% coverage of the required Ongoing Charges Figure (OCF) data across over 30,000 funds on platforms through the first quarter of 2018.
In the ten weeks to 16th March 2018 over 4 million requests for MiFID OCF data had been made by advisers and investors to sources supplied by FundsLibrary.
Arun Sarwal, CEO at FundsLibrary, commented:
“On 3rd December 2017 we had only received 10% of the data required by our intermediary clients – by 3rd January 2018 we achieved over 95% coverage for them. We are extremely proud of the proactive role we played at the time, and continue to play in helping our clients maintain high standards in meeting the obligations of regulatory reporting for MiFID II and Solvency II.”
Find out more about MiFID II Manager.
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All figures correct as at 01.02.2018.